Chinese Farm Produce Prices Drop

CHINA - China's farm produce prices dropped for the week ending 22 April from the previous week, according to a report released Tuesday by the Ministry of Commerce (MOC).

The retail price of eggs dropped 0.6 per cent last week to below 9 yuan per kg as market supplies increased, the report said.

Meat prices also saw declines, with the price of pork down 0.2 per cent from the previous week and down 13.9 per cent compared to the end of January. Prices of mutton and beef were down 0.2 per cent and 0.1 per cent, respectively, from the previous week. The price of chicken remained unchanged.

The price of flour remained unchanged from the previous week, while that of rice rose 0.2 per cent, according to the report.

Eight kinds of sea products also saw an average price gain of 0.1 per cent, according to the report.

The consumer price index (CPI), a main gauge of inflation, rebounded to 3.6 per cent year on year in March, up from 3.2 per cent registered in February, which was the lowest pace in 20 months.

Despite the rebound, analysts said the overall downward trend of inflation will not be changed for the whole year. The government has aimed to contain CPI growth to around 4 per cent for the whole year.